India calls for enhancing cooperation and dialogue with African Nations.

January 19th, 2009 - 5:38 pm ICT by ANI  

New Delhi, Jan 19(ANI): Inaugurating a two-day India-Africa Business Partnership summit in New Delhi on Monday, External Affairs Minister Pranab Mukherjee called for increased cooperation and dialogue with African nations on crucial global issues, including Jihadi terrorism.

Mukherjee also referred other issues like climate change, food and energy security, health, marine piracy and democratization of financial institutions.

Addressing the global financial crisis, he said that the model of international financial architecture has come into question. He, however, gave an optimistic statement saying that India will grow at seven percent and continue the upward trend.

Mukherjee urged industry leaders and the African continent to seek benefits from this opportunity.

The External Affairs Minister also laid emphasis on agriculture and food security for cooperation between India and Africa, and said that Indian companies have started exploring opportunities in the production of pulses, cereals and oil seeds.

This will directly affect the farming communities by providing partnerships to undertake contracts in this sector.

Mukherjee further advised the two regions to create a deep and wide economic engagement with a focus on investment and technical tie-ups.

Describing Indias huge manpower as its biggest strength, he called for cost effective and intermediate technologies at par with the human recourses.

He informed that the trade between India and Africa has reached 30 billion US dollars and there is a huge capacity to reach to greater heights.

Mukherjee also finalized the framework agreement for professional trading with South African Customs Union.

On the other hand, Rwandas President, Mr. Paul Kagame stressed on the need to have a comprehensive strategy on Africas development challenges.

He agreed with Indias view to reform International financial institutions. He urged the African business community to utilize financial support for effective strengthening of economic relations.

The Minister of State for Commerce and Power, Jairam Ramesh also maintained the same view of focusing on human recourses, investments and value addition to realise the economic potential of India and Africa fully.

Commerce Minister Kamal Nath also expressed his hope that India will come out of the global financial meltdown unharmed and will continue growing. He said the inflow of the Foreign Direct Investments (FDI) is satisfactory and it is expected to cross 30 billion dollars this year.
The business partnership conference includes more than 250 delegates and 30 African countries, which has been jointly organized by the Ministry of Commerce and Industry and the Federation of Indian Chambers and Commerce and Industry (FICCI). (ANI)

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